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May 31, 2024 |
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| Home > Small Business Lenders by State > Massachusetts Business Loan Sources > Boston, Business Loans > Eastern Bank Boston Business Loans > Measuring And Controlling Device Manufacturing Loan | ||||
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Hyde Park, Massachusetts Bank for SBA Loans
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SBA Loans for Measuring and Controlling Device ManufacturingLooking for SBA loans for measuring and controlling device manufacturing? Try the SBA. This $50,000 measuring and controlling device manufacturing loan was issued by a Massachusetts bank. This small business received financial assistance through the SBA's lending programs back in 2005. They applied for an SBA loan with Eastern Bank, out of Boston, Massachusetts. The loan was granted and they received $50,000 to help grow their Hyde Park, Massachusetts business. SBA Loan Borrower COMPANY TYPE: MEASURING AND CONTROLLING DEVICE MANUFACTURING SBA Loan Lender EASTERN BANK This lender processed this loan for a small business under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis. SBA Loan Program Type This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program. NAICS Code 334519 - Measuring and Controlling Device Manufacturing Loan Approval Date 2/15/2005 Loan Approval Gross Amount $50,000 Loan Approval from the SBA Of the total $50,000 loan amount, the SBA guaranteed $42,500. More Information on This SBA Loan The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 3 employees. This SBA loan request indicated that the loan would help generate 2 new jobs and retain 3 existing jobs. Next Steps for Getting an SBA Loan Don't apply for a loan directly with the SBA. You need to apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan. While you may be able to borrow money from friends and family, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan. About This SBA Loan Information: All SBA loan data displayed above comes from the government's publicly available SBA loan database. Information on this page is provided by the Gaebler.com news organization to inform business owners, aspiring entrepreneurs and others about SBA loan activity. LoanCensus.com does not assist businesses with obtaining SBA loans and was not involved in any way with this transaction. For additional information, see our Loan Information FAQ. Related Links: Small Bank Loans in Boston, Massachusetts
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